Ransom County, North Dakota Property Taxes
The median property tax rate in Ransom County is 1.65%, which is significantly higher than both the national median of 0.99% and the North Dakota state median of 1.30%. With the median home value in Ransom County at $96,500, the typical annual property tax bill reaches $1,335, which is below the national median of $2,690. Property taxes in Ransom County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Ransom County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Lisbon or another part of Ransom County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ransom County, North Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.65%
Estimate Property Tax Bill
$1,592
$1,478
Ownwell’s Ransom County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ransom County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Ransom County to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Ransom County, North Dakota
Property taxes in Ransom County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Ransom County is 1.65%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Ransom County set these rates annually, and they can vary significantly between different areas within the county. Each year, Ransom County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Ransom County's effective property tax rate with other areas in North Dakota and the national median. For comparison, the city of Enderlin has one of the higher property tax rates in North Dakota at 1.74%, while the city of Fort Ransom boasts one of the lowest at 0.79%. Analyzing how Ransom County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Ransom County Tax Rate
1.65%
Average North Dakota Tax Rate
1.30%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ransom County, North Dakota
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Elliott | N/A | N/A | N/A | N/A | N/A |
| Enderlin | 0.90% | 1.74% | 1.74% | 1.74% | 1.74% |
| Englevale | 0.46% | 0.79% | 0.89% | 0.89% | 0.89% |
| Fort Ransom | 0.79% | 0.79% | 0.79% | 0.82% | 0.88% |
| Kathryn | 0.76% | 0.84% | 0.87% | 0.87% | 0.87% |
| Leonard | N/A | N/A | N/A | N/A | N/A |
| Lisbon | 0.89% | 0.93% | 1.66% | 1.74% | 1.84% |
| Mcleod | 0.86% | 0.86% | 0.87% | 0.92% | 0.94% |
| Milnor | 0.87% | 0.89% | 0.94% | 0.95% | 0.97% |
| Nome | N/A | N/A | N/A | N/A | N/A |
| Sheldon | 0.89% | 0.90% | 1.11% | 1.11% | 1.11% |
| Stirum | N/A | N/A | N/A | N/A | N/A |
| Verona | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Ransom County, North Dakota
In Ransom County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Ransom County Appraisal District. The assessed value, however, is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. Assessment notices in Ransom County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. In Ransom County, the city with the highest median tax bill is Lisbon at $1,642, while Elliott has the lowest at $233. Being aware of these valuation processes will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Ransom County, North Dakota
Source: Ownwell
$30,200
$90,300
$150,400
Average Ransom County Assessed Value
$96,500
Average North Dakota Assessed Value
$217,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ransom County, North Dakota
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Elliott | N/A | N/A | N/A | N/A | N/A |
| Enderlin | $24,340 | $45,800 | $71,300 | $128,350 | $183,380 |
| Englevale | $37,040 | $52,600 | $70,100 | $156,700 | $225,040 |
| Fort Ransom | $19,240 | $52,700 | $83,500 | $195,200 | $285,760 |
| Kathryn | $40,810 | $72,100 | $150,400 | $186,650 | $244,520 |
| Leonard | N/A | N/A | N/A | N/A | N/A |
| Lisbon | $37,100 | $69,250 | $116,200 | $171,900 | $243,100 |
| Mcleod | $2,300 | $9,750 | $30,200 | $99,100 | $182,400 |
| Milnor | $60,160 | $82,300 | $103,400 | $178,600 | $217,100 |
| Nome | N/A | N/A | N/A | N/A | N/A |
| Sheldon | $5,250 | $18,925 | $44,900 | $113,075 | $237,380 |
| Stirum | N/A | N/A | N/A | N/A | N/A |
| Verona | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Ransom County, North Dakota
In Ransom County, ND, property tax bills are calculated based on the assessed value of a property, which is derived from its market value. The county uses a specific assessment ratio to determine the taxable value. Homeowners in Ransom County can expect a median home price of $96,500. Property tax bills can vary significantly, reflecting the diversity in property values and local tax rates. For instance, the tax bill at the 25th percentile is around $691, while at the 75th percentile, it can reach up to $2,207. For those in the 90th percentile, tax bills can go as high as $3,087. Lisbon sees the highest median tax bill at $1,642, whereas Elliott has the lowest at $233. These figures highlight the range of property tax burdens across different areas within the county. Understanding these factors is crucial for homeowners, as property taxes can significantly impact annual expenses and overall financial planning.
Average Ransom County Tax Bill
$1,335
Average North Dakota Tax Bill
$2,659
Average United States Tax Bill
$2,690
Property Tax Bills Across Ransom County, North Dakota
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Elliott | N/A | N/A | N/A | N/A | N/A |
| Enderlin | $303 | $714 | $1,126 | $2,007 | $2,816 |
| Englevale | $199 | $339 | $493 | $1,397 | $2,006 |
| Fort Ransom | $162 | $420 | $706 | $1,603 | $2,341 |
| Kathryn | $365 | $478 | $989 | $1,618 | $2,119 |
| Leonard | N/A | N/A | N/A | N/A | N/A |
| Lisbon | $546 | $997 | $1,642 | $2,534 | $3,402 |
| Mcleod | $17 | $69 | $236 | $894 | $1,599 |
| Milnor | $586 | $769 | $922 | $1,582 | $2,050 |
| Nome | N/A | N/A | N/A | N/A | N/A |
| Sheldon | $65 | $218 | $482 | $1,041 | $2,122 |
| Stirum | N/A | N/A | N/A | N/A | N/A |
| Verona | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell